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Angelo Ingrassia Buys Auctioned Medley Center for 100K

By Staff

 

medleyThe Medley Centre has been auctioned to its only bidder, Angelo Ingrassia, for $100,000.

The Monroe County Sheriff’s Office auctioned the property Jan. 21, at the downtown pubic safety building in Rochester.

Ingrassia, who also owns additional properties in Irondequoit, now owns the mall, and will take on an additional 44 million in tax liens against the property.

Monroe County’s Industrial Development Agency cut its tax breaks for the property’s former owner and managing partner of Bersin Properties LLC, Scott Congel, after Congel previously requested to restructure the company’s tax deal for the failed redevelopment project.

Subsequently, Bersin Properties’ lender, Nomura Credit and Capital, initiated foreclosure proceedings on the property.

Congel has currently filed lawsuits against the bank,  COMIDA, the town of Irondequoit and the East Irondequoit Central School District.

Irondequoit’s Town Supervisor Adam Bello issued the following statement regarding Thursday’s sale of the property:

“Today’s sale of the former Irondequoit Mall is outstanding news for Irondequoit, and represents the first page in a new chapter for our town. Today’s sale is the result of a bipartisan effort led by the town, and I would like to thank all of our partners in government for their cooperation, and persistence. The property is now in the hands of someone with Irondequoit roots, a proven track record of development in Irondequoit, and throughout the region, and the positive relationships that are essential for the development of the mall.When I was first elected supervisor, I made a commitment to hold the now-previous owner of the former mall accountable, and do everything in my power to move this project forward, with an owner committed to Irondequoit. We have much work left to do, but one thing is clear: a very large barrier standing in the way of redevelopment has been removed. For that reason, and many others, there is much reason to be optimistic about Irondequoit’s future.”